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Day: May 30, 2012
May 302012
Crisis Gives Loonie No Quarter
Europe’s debt story continues to eat away investor’s confidence and, as a result, the Canadian currency continues to suffer. The euro feels even worse, though, and the Canadian dollar reached the highest level in almost two years against the shared European currency. Europe is not going to leave the news headlines anytime soon and every time traders hear about new developments in the European credit story they seek refuge as that developments […]
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May 302012
Aussie Slumps as Retail Sales Decline
The Australian dollar dipped today as negative report about Australian retails sales added to overall negative sentiment among Forex market participants. The data reinforced opinion that the nation’s central bank may continue interest rate cuts. Retail sales fell 0.2 percent in April from March on a seasonally adjusted basis, following the 1.1 percent increase in March. The median estimate was a 0.2 percent rise. Negative domestic fundamentals […]
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May 302012
US Dollar Rallies as Risk Aversion Takes Hold of the Markets
US dollar is rallying as risk aversion takes hold of the markets. Financial markets are falling everywhere, from high beta currencies to stock markets. Concerns about the eurozone are mainly driving today’s risk averse atmosphere. With so many concerns, it’s little surprise that the US dollar is heading higher. One of the biggest concerns right now is the Spanish banking system. Spanish banks are […]
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May 302012
Swedish Krona Advances vs. Euro on Rising GDP
The Swedish krona advanced versus the euro today as the nation’s economy expanded last quarter. The currency was down against the US dollar as overall market sentiment remained depressed. Statistics Sweden reported that Sweden’s gross domestic product expanded 0.8 percent in the first quarter of 2012, quarter-on-quarter, following the decline by 1 percent in the preceding quarter. Economists expected just 0.2 percent growth. The positive data improved prospects for krona and diminished […]
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May 302012
Spain’s Troubles Send Euro Lower
Today, Spain’s woes are in focus, and that is sending the euro lower. EUR/USD is below the 1.2500 mark, and possibly heading even lower, thanks to concerns about Spain, as well as uncertainty about Greece and uncertainty about how the Irish will vote tomorrow when it comes to the European Union’s fiscal treaty. With Spanish bond yields pushing higher, and concerns that Bankia won’t be the last of the Spanish banks […]
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May 302012
How Well Forex Traders Understand Probabilities — Analysis
Last week I have tried to measure the probability literacy among the readers of this blog, who presumably are Forex traders or at least are trying to be them. Now, with more than 50 answers to each question of the test poll, it looks like a good time for my follow-up post with some explanation and analysis of the obtained answers. The results of the suggested polls are quite curious, in my opinion. But first, let me […]
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